IIFT Daily Note with Peter Brown

Euro

Posted by:  |  Time: 7:11 am  |  Topic:
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A really strong rally on the Euro on Friday.Held it’s levels into this morning. 1.3440 and 109 against the Jpy.

Looking very overbought especially against the JPY. Rallied very strongly on Friday in an overbought position so this trade is difficult. Going to leave it for the moment. I Think it is too high but can’t seem to find a top .

The S&P on the other hand is trading heavy. Back down to 1360 this morning. 1370 seems a level it does not want to go past. A lot of commentators calling for a deeper correction. Need to break 1350 for that to happen.

Gold still hovering below 1804. This would be a good level to attempt a short.

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